"The Nazi movement was not a uniquely German event; it is a uniquely human event. And such a dark movement remains in our hardened hearts to this day. When human beings, for whatever reason and rationale, decide that it is necessary and expedient to cast aside their moral principles and their conscience, and in the pain of their humanity make themselves into beasts, then the will to power and its madness is unleashed upon them. No one, no people, is safe from this awful tragedy." Jesse

15 January 2015

SP 500 and NDX Daily Charts - One Way Or Another

I fled Him, down the nights and down the days;

I fled Him, down the arches of the years;

I fled Him, down the labyrinthine ways

Of my own mind; and in the mist of tears

I hid from Him, and under running laughter. 5

Up vistaed hopes I sped;

And shot, precipitated,

Adown Titanic glooms of chasmèd fears,

From those strong Feet that followed, followed after.

But with unhurrying chase,

And unperturbèd pace,

Deliberate speed, majestic instancy,

They beat—and a Voice beat

More instant than the Feet—

‘All things betray thee, who betrayest Me.’

Francis Thompson, Hound of Heaven

As I am sure you have all heard by now, the Swiss National Bank shocked the markets this morning by dropping their export-trade motivated peg to the Euro.

This certainly moved the currency markets, and toasted those who were short the franc, of the hedge fund variety.

All this overshadowed the US economic news which, in the vernacular, blew chunks.

The Philly Fed slumped badly, the unemployment claims were much higher than expectations at 316,000, and Core PPI was higher than expected. Holy hints of stagflation, Batman.

Stocks are really back down hard on support now, after putting in some wide ranging days over the past week or so. This is described technically as 'not good.'

Barring some central bank kabuki words, which are getting a little thin by the way, we might see a continuance of a slack stock market where even 'ok news' gets sold.

This seemed to be the case with Intel after the bell, that came in-line with its financials, and sold off.

Le Propriétaire

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Need Little - Want Less - Love More

The Banks must be restrained, and the financial system reformed, with balance restored to the economy, before there can be any sustainable recovery.

"In the Incarnation the whole human race recovers the dignity of the image of God. Thereafter, any attack even on the least of men is an attack on Christ, who took on the form of man, and in his own Person restored the image of God in all. Through our relationship with the Incarnation, we recover our true humanity, and at the same time are delivered from that perverse individualism which is the consequence of sin, and recover our solidarity with all mankind." Dietrich Bonhoeffer

LET US COMMEND OUR PAST TO HIS ABUNDANT FORGIVENESS, AND TRUST OUR FUTURE TO HIS KINDNESS AND TENDER MERCY. LET US PERMIT OURSELVES TO BE FASHIONED ACCORDING TO HIS WILL, NOT FOR HIS SAKE, BUT FOR OURS. REMEMBER TO FEED THE LEAST OF HIS CREATURES, THE BIRDS AND ANIMALS. AND THE HEARTS OF THOSE YOU MEET, WITH A KIND WORD AND A SMILE.

"A credibility trap is when the managerial functions of a society have been sufficiently compromised by corruption so that the leadership cannot reform, or even honestly address, the problems of that system without implicating a broad swath of the powerful, including themselves.

The moneyed interests and their aspirants tolerate the corruption because they have profited from it, and would like to continue to do so. Discipline is maintained by various forms of soft financial rewards and career and social coercion."

These are personal observations about the economy and the markets. In providing information, I hope this allows you to make your own decisions in an informed manner, even if it is from learning by my mistakes, which are many. As a standing policy I never provide individual investment advice to anyone. I will only occasionally disclose my personal positions for purposes of illustration. Understand that my own circumstances could differ greatly from your own, and therefore what is suitable for me may not be suitable for you. My comments are intended to be reflection on general macro financial and economic events and trends.